Author: Rigs & Barge World

A flurry of meetings this week between officials from the Iraqi federal government and the Kurdistan Regional Government (KRG) failed to finalize a deal to resume crude oil exports through the Iraq-Turkey Pipeline (ITP). A proposed ‘government to government’ compromise through which Erbil would put its contractual share of Kurdistan output into the pipeline gained traction, but Baghdad was ultimately reluctant to commit in writing to key conditions. Multiple sources confirm that the plan was for the KRG to send volumes equivalent to its contractual shares in various Kurdistan fields into the pipeline to be sold by federal state marketer…

 The price of crude oil has shifted to bearish territory in light of softening demand, increased supply and evolving geopolitical risks. Despite a brief lull following a ceasefire between the US and the Houthis, Yemen’s Houthi rebels have resumed attacking ships in the Red Sea. A recent incident tragically resulted in a ship sinking and two crew members losing their lives, followed by another attack on the “Eternity C” that killed three mariners and wounded two others as of today, July 8, 2025. If these attacks persist, vessels will be forced to take longer, more expensive routes around Africa, alongside facing…

The Public Prosecution for Transport and Distribution, along with the Department of Health, Occupational Safety, and Environmental Protection (HSE) at the Egyptian General Petroleum Corporation (EGPC), held its quarterly meeting with companies operating in petroleum product transport and distribution. The meeting focused on reviewing the companies’ procedures for ongoing development in HSE practices, particularly those related to the transport and handling of petroleum products via tanker trucks. This comes as part of an integrated plan aimed at fostering more conscious engagement with the system’s human, operational, and procedural components. During the meeting, Ayman Abdel Badie, EGPC’s Vice Chairman for Transport…

Iran has brought three trains back online at the 2bn cfd South Pars Phase 14 gas processing plant, but the fourth 500mn cfd train which was damaged in an Israeli strike last month remains offline (MEES, 27 June). The processing trains at Kangan, northwest of Assaluyeh, receive gas via subsea pipelines from Iran’s giant South Pars gas field. Touraj Dehghani, CEO of South Pars Oil and Gas Company (SPOGC) announced on 25 June that operations at the Phase 14 facility have been restarted, with sales gas being supplied to the national grid. However, despite Iran’s semi-official Tasnim news agency stating…

Minister of Petroleum and Mineral Resources Karim Badawi met with Sherif El-Gabaly, Chairman of the Board of the Egyptian Chamber of Chemical Industries under the Federation of Egyptian Industries (FEI), and Founder and Chairman of Polyserve Investment Group, which specializes in phosphate fertilizers and phosphoric acid. The meeting explored opportunities for cooperation and partnership to maximize the added value of phosphate ore, which can be achieved through expanding the phosphate fertilizer and phosphoric acid industries. This initiative falls under the third pillar of the Ministry’s strategy, which focuses on developing mining industries and transforming raw materials into value-added products. Badawi emphasized…

Tensions have continued to rise in the Eastern Mediterranean this week amid a maritime border dispute involving Greece, Egypt, and Cyprus on one side, and Turkey and Libya on the other. The dispute over the contested waters has intensified in recent months as Libya’s eastern government considers ratifying a 2019 MoU initially inked between its rival western government in Tripoli and Turkey, connecting Turkish and Libyan offshore waters at the expense of Greek and Egyptian claims (MEES, 22 May 2020). (CONTINUED – 877 WORDS) Read this article for free Gain access to over 60-years of energy analysis and news Delve…

Minister of Petroleum and Mineral Resources Karim Badawi and his accompanying delegation conducted a field visit to Dakahlia Governorate, specifically to the Begonia-2 well. The well is located within the New Manzala concession area, which is operated by El Wastani Petroleum Company (WASCO) in partnership with Dana Gas. The visit is to oversee the start of an integrated program to drill 11 new wells. These wells are expected to add approximately 160 billion cubic feet (bcf) of natural gas, with an additional average daily production of about 100 million cubic feet of gas (mmcf) and 2,000 barrels per day (bbl/d)…

The Egyptian Parliament gave final approval to a draft law, permitting the Minister of Petroleum and Mineral Resources to contract with the Egyptian Mineral Resources and Mining Industries Authority and Centamin Company. The purpose of this contract is to exploit gold ore and associated minerals in the Sukari sector. The agreement, which is in line with the constitution’s provision for natural resource exploitation licenses of up to 30 years, aims to boost economic prosperity; create new job opportunities; and support the state’s focus on developing the mining sector. Under this agreement, Centamin will have the right to exploit the Sukari…

UK-based start-up Xlinks has been left scrambling for alternative markets after the British government pulled out of its ambitious $33bn power project with Morocco. With backing from international heavyweights including TotalEnergies, Abu Dhabi state firm Taqa, and renewables-focused UK power supplier Octopus Energy, the proposed project promised to power seven million UK homes with renewable energy from the Guelmim Oued Noun region of southern Morocco via 3,800km subsea high voltage direct current (HVDC) cable sets (see map & MEES, 1 December 2023). (CONTINUED – 888 WORDS) Read this article for free Gain access to over 60-years of energy analysis and…

Shell’s trading of integrated gas is expected to decline in Q2 2025 compared to Q1 2025, according to its operational results. The Company’s production recorded 927,000 barrels of oil equivalent per day (boe/d) in Q1 2025, and predicts the production of 900,000- 940,000 boe/d in Q2 2025. Additionally, the company’s liquified natural gas production reached 6.6 million metric tons in Q1 2025, with projections ranging between 6.4 million to 6.8 million metric tons in Q2 2025. Regarding upstream operations, Shell’s production stood at 1.85 million barrels of oil equivalent per day (mmboe/d), with guidance of 1.66 to 1.76 mmboe/d for Q2…